Big hike in half-year revenues at UKFast
Manchester technology brand UKFast has enjoyed an 18 per cent surge in revenues to £22.9m in the first half of 2017, driven by high client retention rates and investment in its team.
The cloud and colocation firm grew average employee numbers by 26 per cent with a recruitment drive in 2016 and is now on track to turn over £46m, with an EBITDA of £21m this year, up from £40m and £17.6m respectively last year.
CEO and founder Lawrence Jones MBE now employs over 400 people across his technology businesses.
Last year, 48 per cent of UKFast’s revenue growth came from increased demand from existing customers, with 52 per cent delivered through new client wins.
“This is a culmination of 18 years' hard work from a brilliant team that works continuously around the clock for incredible clients,” Jones said.
Alongside investment in the UKFast team, the firm committed significant capital investment of £4.1m in infrastructure in the first half of this year, on top of the £7.6m spent last year.
Jones continued: “A symbiotic relationship between cutting-edge tech and industry-leading customer service comes together to form what UKFast is all about.
“Investment in the very best equipment alongside investment in our people creates an incredible platform to provide outstanding service to our customers, giving us a brilliant foundation to build on and the capacity to continue growing in coming years.”
Last month, UKFast formally split into two arms with Jonathan Bowers heading up the firm's Enterprise division, while co-founder Gail Jones took on the role of UKFast managing director to facilitate the business' next stage of growth.
UKFast is set to double the size of its HQ in the second half of 2017, as it moves into the 40,000 sq ft building adjacent to its current campus, which it acquired in October 2016.